Traditionally, the play of casino games and other games of chance was based on the wagering of actual money, such as coins and currency. Coins and currency have traditionally been used directly as bets in table games such as poker and blackjack. Alternatively, the coins and currency are exchanged for chips which have a representative monetary value.
As mechanical games of chance were developed, such as the well-known slot machine, coins were used to activate the machines. Later, bill validators were provided which allowed players to avoid the need to convert their currency to coins before playing a gaming machine.
Outside of the gaming industry, the consumers were provided with a large variety of options to effectuate their banking and other monetary transaction needs. For example, the credit card was developed and has become widespread in use.
In some instances, the gaming industry has come to embrace some of this technology and provide greater flexibility to consumers. In general, however, the development of this technology has focused upon interfacing existing external systems, such as banking systems, with internal casino accounting. For example, U.S. Pat. No. 5,457,306 discloses the use of credit cards in association with gaming machines.
The prior art has not addressed, at least from the consumer or player's point of view, providing convenient means for effecting financial transactions in the gaming environment. In addition, players are not provided with a convenient mechanism for tracking their play, including expenditures and winnings.
In some jurisdictions, a casino or other entity providing gaming services is not permitted to allow a patron or player to continue game play if the patron or player has lost more than a given amount of money in a predetermined period of time. It is thus important for a casino to be able to track the wins and losses of a player to ensure compliance with these regulations.
Several problems frustrate the ability of a player and a casino to monitor or track player wins and losses. In most game play scenarios, a player places many bets and at one or more times is paid winnings. It becomes very difficult for the player to track the total amounts wagered and paid out for determining total loss (or win). A casino may attempt to track a player's play with a player tracking system where a gaming machine provides coin in and coin out data. In many instances, however, a player may not use the player tracking system. In addition, certain games which are played may not be associated with the system. A player not using the system may lose hundreds of dollars without the casino being aware of the loss, in violation of the regulations.
Casinos are continually looking for new ways to entice existing players to play games, and draw in new players. In some instances, casinos track player game play and, if the player's level of play reaches a certain level, may reward the player independent of the any winnings the player receives from game play. For example, the casino may offer the player a free night's stay at a hotel associated with the casino. This system offers little player interaction, however, with the discretion of awards left to the casino.
A system and method for monitoring player financial transactions, including tracking of player loss, is desired. It is desirable to provide one or more methods and devices which serve to facilitate monetary and commercial transactions in a manner overcoming the above-stated limitations. It is also desirable to provide an improved system for providing player rewards in a gaming environment.